Loading…
France's Ministry of Agriculture cut its maize estimate to 12.4 million tonnes, 12.8% below 2017 and 400,000 tonnes below the prior month. It also lowered sugar beet output to 41.1 million tonnes, 11.1% lower, and wheat was revised down from 35.1 million tonnes, with the dry, hot summer cited as the cause.
A smaller French corn crop, with some expected to be fed on farms, reduces EU corn exports and supports prices for feed grains, while lower beet output tightens beet pulp supply for feed.
zmp.deSep 11, 2018After 1,040 past bullish report events, Corn moved a median +0.5% over 5 sessions (62% higher; middle half -0.9% to +2.0%), and +0.8% over 20.
After 769 past bullish report events, Wheat (SRW) moved a median +0.2% over 5 sessions (53% higher; middle half -1.4% to +2.0%), and +0.2% over 20.
Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
